Briefs

The US competition regulator has approved BHP Billiton’s US$15.1 billion bid for Petrohawk, and the company has formally lodged the offer with the US Securities and Exchange Commission. For investors, this means the proposed takeover has cleared a key regulatory hurdle and the deal process is proceeding through the SEC — watch for official filings and any further regulatory updates.

Whitehaven Coal reported a 47% increase in output to 1.47 million tonnes in the June quarter, and total sales jumped 82% after earlier deferrals linked to Japan’s earthquake. Everyday investors should note the strong quarter but also keep an eye on ongoing weather and demand factors that can affect future production and sales.

Amcor completed the sale of its glass tubing business to Nipro Corp for US$161 million (A$149 million). Amcor said it will report about US$90 million of profit on the sale as a significant item. Investors should treat this as a one‑off gain that boosts reported results for the period rather than ongoing operating earnings.

Engineering firm Downer EDI won a contract worth more than $400 million on Xstrata Coal’s Ravensworth North project in the Hunter Valley. For investors, large contracts like this can add meaningful revenue and earnings visibility, though watch execution risk and project timelines as they influence when revenue flows through to results.

Lend Lease received approval from the US Department of the Army to modify and develop a residential project in Hawaii valued at $157 million, and will now build larger homes than originally planned. This approval moves the project forward and could increase development revenue, but investors should monitor construction progress and timing of cash flows.

UBS announced fresh job cuts after reporting sharply lower second‑quarter profits of 1.02 billion Swiss francs (about $1.16 billion), down almost 50% year‑on‑year. Swiss reports suggest there could be around 5,000 job losses. Investors should watch for management commentary on cost savings, restructuring charges and how the cuts affect future profitability.

British energy giant BP returned to profit in the second quarter, reporting US$5.6 billion (about $5.2 billion) of profit in the three months to end‑June after a large loss the prior year related to the US Gulf of Mexico oil spill. 'Back in the black' simply means BP was profitable in the quarter; investors may want to track whether this profit is sustainable across upcoming periods.

India’s central bank raised interest rates by 50 basis points to 8% — its 11th increase since March last year — aiming to combat soaring inflation. For everyday investors, higher Indian interest rates can affect borrowing costs, corporate earnings and bond yields in India, so those with exposure to Indian equities or bonds should consider the potential impact on economic growth and financial markets.